Only 5% of traders end up consistently profitable because of their business, why is that? Although there is no direct answer to this eternal question, I can not for several of the most common reasons that traders believe fail.
I remember when I started trading forex, it is always clear that money is simply drained from my trading account, and no matter what you try, you just have not been able to stop the leak. After years of careful study, read many books, attending endless online seminars, networking with like-minded people and do not know what I wore a wire, I think it was for the cause. In this article I will answer these questions all aspiring traders face.
1 unrealistic expectations.
Too often I hear of new operators to earn $ 10,000 per month, from $ 1,000 in their trading accounts and hope above, have little experience in trading.
To be honest, the only good thing about this statement is that it is a detailed and objective writing, and yet full of practical reality and not solved. Having specific goals are necessary, but is a goal, viable and credible operational. One of the goals should be based on research and knowledge of what is possible and what is realistic.
Anyone can make huge profits for some time, the difficulty of compliance with them and maintain the low level of risk that has a certain amount of knowledge and experience.
Before you start trading, slow down and think, what are your goals? Are they realistic?.
2 No method of Forex trading.
All successful traders have Forex trading system and clearly defined, is essentially a set of rules and guidelines that determine the operator to enter the market, where to go and how to help manage trade.
Trading without a clear method of negotiation led to guess and random decisions are influenced by emotions. Trading without a trading system well thought always lead to large losses.
Take the time to define your trading method. Think about it and put it in writing. Be specific and answer the questions that arise when the market is held, you can.
3 The lack of discipline.
Hopefully now you will have to achieve realistic goals achievable goals and a card from there. The next step is to follow the diet without hesitation.
This does not take unnecessary risks just because you want some action! You need to decide what is going to replace, if it's fun, that's one thing, but if this is the case, be treated as such. Having discipline.
A good way I've found to develop the discipline you have chosen again to test your trading system. Back to try and prove that it is profitable or not, you will lose all your doubts. If your doubts are gone and that absolutely.know. that your trading system works is that it is easier to follow.
4 Do not have the patience.
Forex trading is an exciting venture, contrary to popular belief. When you go looking for Vegas for an action that may interest you as well - you will lose your money, but have a blast while you're there.
Forex is an advantage to find ways to lose more than it gains. If you find this well-defined edge, also known as forex trading method is their "job", have the discipline to wait.patient. execute your plan.for good configurations.
The reality is that Forex trading is usually quite monotonous. My mentor once told me that if the operation is so exciting that I did something wrong, really.
5 Without money management. Strategy.
Another very serious to be overcome are traders roadblock to a successful forex, adopt and implement strict money management. This is of crucial importance and should be part of your trading plan, which could be the difference between success and failure is.
Personally I just risk in a single operation, no more than 3% of my account balance. Therefore, no trade can not kill me. In my opinion, is a bit over 5% in excess and eventually lead to disaster. Be patient, do not try to make a fortune in a single trade. Forex is not a get rich quick scheme. It is a lucrative profession, will pay handsomely for a long time.
Successful Forex trading is simple and logical. Although it is quite easy to be successful, it requires hard work, common sense and a lot of discipline. I can assure you it is worth the effort. Check the five reasons why I have not described and try to answer all you will see the benefits in no time.